CNBC Al Arabiya said in a report on Sunday that the Lebanese government’s reform project is a new excuse launched by Banque du Liban to justify its recent decision regarding the withdrawals from dollar deposits according to the exchange rate of 3900 liras to the dollar and extending it until the end of January of the year 2022.
CNBC indicated that an additional four months is the time period during which Lebanese depositors will incur losses of 80% of the value of their deposits, as the exchange rate of the Lebanese pound reached levels of 18,000 pounds against the dollar in the black market.
It is noteworthy that the decision of the central bank was criticized by the Lebanese Depositors Association, which called on depositors to go to the banks, occupy them, stay in them, and sit in front of the branches of the Banque du Liban in all regions.
The association also accused Lebanese banks of colluding with the central bank, in addition to its evasion of protecting depositors’ money.
On his part, the head of the Finance and Budget Committee described the decision as “an anesthetic for depositors.”
The report indicated that the central bank is proceeding with its decision in an attempt to gain time, knowing that the circular was issued more than a year and a half ago at a time when the dollar exchange rate was about 7,000 liras.
It is worth noting that the price of the dollar has touched 20,000 LBP, and Lebanese depositors are still withdrawing their money with a big loss, however, the light remains shed on the speed of the new government in presenting its reform project to save what can be saved from the money of depositors, who lost their confidence in the banking sector.